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ARCS LICENCES
Harassed by loan recovery agents? Know your legal rights and 6 steps to fight backBorrowers struggling with debt often face harassment from recovery agents through abusive calls, threats, public shaming, and unauthorised ...- Piramal-Bain ARC venture calls it quitsPiramal Enterprises Ltd and Bain Capital Credit have relinquished their license for India Resurgence Asset Reconstruction Company to the Re...
- Yet another ARC to shut shop, this time an Aditya Birla joint ventureAditya Birla Asset Reconstruction Company is winding down its operations in India, joining other fund-backed ARCs exiting due to challenges...
- RBI showcauses ARCs after audit following Income Tax raidsIn December 2021, the I-T department carried out a search and seizure of 60 premises of four ARCs - Omkara ARC, Rare ARC, CFM ARC, and Inve...
- Bandhan in talks to sell stressed microloans to Phoenix ARCOn Wednesday, Bandhan Bank invited expressions of interest for selling over 1.8 million loan accounts aggregating to a loan book of ₹8,897 ...
- Income Tax Dept searches Alchemist and UV ARCs for suspected tax evasionThe Mumbai investigation wing of the IT department had in December 2021 had carried out searches on four other ARCs, probing transactions o...
- RBI rethink on 'dual structure' may delay launch of bad bankAccording to the proposal submitted to the Reserve Bank of India, the National Asset Reconstruction Company (NARCL) would have acquiring no...
- Final guidelines for ARC sponsors soon: RBI officialThe chief general manager at the dept of non-banking regulation at RBI said the central bank has received several applications for setting ...
- Indiabulls Asset Reconstructions gets RBI licence, to launch OpsIAR, set up to assist banks and financial institutions in reducing their non-performing assets, plans to start operations shortly.
- With RBI issuing licence to Ambit-JC Flowers JV, expect things to get better on bad loan frontThe non-performing loans, or accounts where borrowers have missed their repayments on due date, touched a 12-year high of 7.6% of loan book...
- Fortune Financial, 2 others get RBI nod for ARC business“Encore has received an approval from the RBI for setting up an ARC," said Encore official in an email reply to ET. Fortune Financial did n...
- RBI gives nod for three asset reconstruction companiesSpeaking at an event in Bengaluru, RBI governor Raghuram Rajan had said, “We will shortly license a number of new ARCs to provide a deeper ...
- With Bankruptcy Act, demand for asset reconstruction company licence risesWe are also working on a framework to enhance efficiency and transparency of price discovery in sale of stressed assets by banks to ARCs,” ...
- RBI issues licences to 2 more asset reconstruction playersAlthough the minimum capital required to start an ARC business is just Rs 2 crore, the sale of bad loans hasn't really taken off.
- Asset reconstruction business hots up as loan defaults riseThe downturn in the economy is attracting more players towards the market for bad loans.
- Edelweiss arm plans $200-m distressed asset fundEdelweiss Alternate Asset Advisors (EAAA), an arm of Edelweiss Capital is looking at launching a $200-million distressed asset fund.
- Banks, broking cos see good business in bad loan marketThere is also a positive side to an economic slowdown. Sensing business opportunities, banks and brokerage are eyeing the bad loan market.
- Reliance Capital can trade in bad loansAnil Ambani’s Reliance Capital, one of the country’s biggest finance companies, has been allowed to trade in bad loans.
- Global funds eye stake in Rel Cap's ARC businessGlobal funds are in the fray to partner Reliance Capital in its asset reconstruction (ARC) business.
- RBI sets deadline for ARCs' take-offThe Reserve Bank of India (RBI) has said that asset reconstruction companies (ARCs) will have to start operations within six months of rece...
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